For many years, entrepreneurs have reaped the benefits of the franchise business model, which carries excellent benefits, as will be discussed later in this article. Office Evolution offers investors and entrepreneurs an unparalleled office franchise opportunity within the landscape of a booming coworking space industry. Let’s take a closer look at the numbers.
The Coworking Space Industry Is Booming
The demand for flexible coworking spaces continues to increase in an evolving business world. As more professionals seek modern workspaces designed to foster networking and collaboration, the flexible workspace industry grows to unprecedented heights every year. Here’s an overview of the coworking space market in the US:
- In 2022, the number of professionals working in coworking spaces is forecasted to increase to 1.08 million.
- The global coworking space market has grown from $13.6 billion in 2021 to $16.17 billion in 2022 at a compound annual growth rate (CAGR) of 18.9%.
- Coworking spaces represent 1.6% of commercial real estate in the US.
Now is the perfect time to consider an office franchise opportunity to own your own business and grow your wealth.
Why You Should Consider an Office Franchise Opportunity
The franchise business model has been known for its many benefits for investors and entrepreneurs who want to own their own businesses within the framework of a tried-and-tested business model. Here are some of the most prominent benefits of the franchise business model:
- Established brand awareness: When you start a business from scratch, you will be tasked with building and establishing your brand identity and subsequent brand awareness. By partnering with a franchise, you are able to tap into the established brand awareness that comes with investing in an existing brand.
- Decreased financial risk: Starting your own business, whether opening an independent business or partnering with a franchise, comes with financial risks. This being said, franchising is known for being less risky than opening a business independently. In choosing to partner with a franchise, you get immediate access to a business model that has been tweaked and improved over time.
- Higher profitability: Franchises generally see higher profits than independently owned businesses because franchises are usually recognized brands that bring in customers at a much higher rate.
- Existing customer base: Starting your own business from scratch means that you need to spend a great deal of time and money attracting new customers. When you partner with a franchise, you get to leverage an extensive existing network of customers who already know your brand and what it has to offer.
Every franchise has an established business model they tout as ‘the best.’ Here’s what’s unique about Office Evolution.
The Office Evolution Franchise Business Model
As the #1 and fastest-growing coworking franchise, Office Evolution has been perfecting its coworking concept since 2003. The Office Evolution franchise opportunity is unmatched and carries exceptional benefits for our franchisees. Some of the many benefits of our business model include recurring revenue, business-to-business (B2B) clients, low employee requirements, recession resistance, and a semi-absentee model.
- Recurring revenue: Our subscription-based revenue model means that over 93% of your income is recurring.
- B2B clients: Your clients will be like-minded business professionals who understand the ins and outs of conducting business.
- Recession resistance: Coworking spaces like Office Evolution are deemed an essential service, as people still need a place to work in times of recession.
- Semi-absentee model: With low employee requirements, you’ll only need to hire one salaried employee for your Office Evolution location.
Our goal is to provide our members with flexible coworking solutions that work for them while franchise owners are able to build their wealth.
Are you interested in an Office Evolution franchise opportunity? Contact us today to start your journey.